Tata Consultancy Services (TCS), India’s largest IT firm by sales, on Tuesday, reported a 23.46 percent year-on-year (YoY) growth in consolidated profit for June quarter at Rs 7,340 crore.

The bottom line number surpassed the Rs 6,984.30 crore profit estimate that analysts had made in an ETNow poll.

The company had posted Rs 5,945 crore profit for the same quarter a year ago. On a sequential basis, profit grew 6.31 percent. Consolidated revenue for the quarter rose 15.80 percent to Rs 34,261 crore from Rs 29,584 crores reported for the year-ago period.

The outsourcing firm announced an interim dividend of Rs 4 per share. The proposed record date for dividend is July 18, while the payment date is July 25.

Revenue in dollar terms came in at $5,051 million against ETNow poll of $5100 million. The figure stood at $4,972 million in the sequential quarter ended June 2017.

EBIT margin stood at 25 percent in Q1FY19 compared with an estimate of 24.70 percent that analysts had made in an ETNow poll. In absolute terms, EBIT stood at Rs 8,578 crore in Q1FY19 against ETNow analysts poll of Rs 8618.52 crore.

Segmentwise, revenue from BFSI increased 8.32 percent on a QoQ basis and 14.21 percent on a yearly basis to Rs 13,464 crore during the quarter. Digital revenue stood at 25 percent, up 44.80 percent YoY. The company reported net cash from operations at 103.70 percent of net profit for the quarter ended.

Earnings per share, or EPS, jumped 26.10 percent YoY to Rs 19.17.

North America growth hit the highest level in over 12 quarters in the April-June period.

Commenting on Q1 earnings, CEO and MD, Rajesh Gopinathan said: “We are starting the new financial year on a strong note, with the growth engine firing on all cylinders. Our Banking vertical recovered very nicely this quarter while other industry verticals maintained their momentum. With a good set of wins during the quarter, a robust deal pipeline and accelerating digital demand, we are positioned well for the future.”

“Customers across verticals and markets are embracing our Business 4.0 thought leadership framework and accelerating their digital transformation journeys. Our contextual knowledge, full spectrum capabilities and investments in research and innovation are making us their preferred partner for their growth and transformation initiatives,” Gopinathan added.

During the quarter, the company added two new clients in the $100 million-plus category, 13 clients in over $5 million slab.

TCS’s total headcount stood at 4,00,875 at the end of the quarter on a consolidated basis. The attrition rate for IT services stood at 10.90 percent LTM.